XLM/USD (Stellar) Price; Buyers Are Gaining Upper Hand

STELLAR Price Analysis – June 02

When the bulls increase their momentum, the price will break up the resistance level of $0.50, and the price may increase to the high of $0.57, which may extend to $0.67 level. In case the bulls are unable to break up the resistance level of $0.50, bearish movement may continue towards the $0.42, $0.33 and $0.22.

Key Levels:

Resistance levels: $0.50, $0.57, $0.67

Support levels: $0.42, $0.33, $0.22

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. The bulls are gradually taken over the stellar market after many days of bearish trend. Last week, the bears were in control of the market. The bearish momentum pushed the price to test the low of $0.33 before it bounces to test the $0.42 level. The bears’ pressure is getting exhausted and that of the bulls is increasing. There is tendency for the bulls to dominate the market.

 

Stellar price is increasing, penetrating the 9 periods EMA and 21 periods EMA upside which connote an increase in bullish momentum. When the bulls increase their momentum, the price will break up the resistance level of $0.50, and the price may increase to the high of $0.57, which may extend to $0.67 level. In case the bulls are unable to break up the resistance level of $0.50, bearish movement may continue towards the $0.42, $0.33 and $0.22. The relative strength index period 14 is bending up at 45 levels to indicate buy signal.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. The bearish momentum in the Stellar market is lower compare to that of the bulls. The price is increasing slowly to break up $0.42 levels. Price may continue to increase provided the bulls maintain or increase their pressure.

The price has crossed the 9 periods EMA and the 21 periods EMA upside and it is trading above the two EMAs. The Relative Strength Index period 14 is at 60 levels pointing up to indicate buy signal.

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